UK Healthcare announces partnership with Ashland hospital group
LEXINGTON, Ky. (WKYT) - UK Healthcare and King’s Daughters Health System in Ashland are teaming up for a major partnership.
The Executive Committee of the University of Kentucky Board of Trustees agreed to allow the deal to move forward during a special meeting Friday morning.
The university emphasized this is not a takeover but a partnership between two very strong companies. They say it’s going to be mutually beneficial for the companies and for the patients they serve.
“We are not coming in as a white knight,” said Dr. Mark Newman, Executive Vice President of Health Affairs at the University of Kentucky. “We’re coming to work together to keep them strong and to secure our future.”
The university started working on this partnership 10 months. The university’s executive committee gave them the go-ahead with a unanimous vote on Friday.
“This is a significant deal representing $500 million in revenues, over 3,500 employees, over 150 physicians, and another 150 nurse practitioners and physician’s assistants,” said Dr. Newman.
The partnership will see UK step in and be responsible for managing hospital facilities and meeting quality metrics while working with the existing management and staff at King’s Daughters.
UK officials said this is a great move to keep King’s Daughters strong moving forward while also allowing UK to expand its reach to other states.
“While King’s Daughters has done a great job in capturing a large primary care basin in the greater Ashland area, we see a tremendous opportunity in Ohio and West Virginia to continue to advance and provide care to people who need it,” said Dr. Newman.
The partnership is not finalized as of yet. A UK spokesperson said some final details will be ironed out over the coming months.
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